Freshfields Bruckhaus Deringer has announced details of its 2013 associate salaries – holding rates at 2012 levels as the magic circle firm becomes the third to reveal junior lawyer pay this year.

Despite the rates remaining broadly the same as last year, junior lawyers at Freshfields will still be able to take home the same or more than their magic circle peers.

Trainee salaries remain at £39,000 for first year recruits and £44,000 for those in their second year, marking the fifth year they have stuck at this rate.

Meanwhile, the foundation stage in the magic circle firm's 'milestone' pay bands – which were introduced last year and replace the previous system of pay based on number of years of post-qualification experience (PQE) – remains in the range of £65,000 to £72,500. This band is largely equivalent to newly-qualified (NQ) and one year PQE lawyers.

Level one salaries, which capture the majority of lawyers with between two and four years' PQE, meanwhile range from £80,000 to £92,500. Level two, which typically covers those with more than four years' PQE, remains at £100,000 to £107,500.

Milestone three lawyer's pay starts at £115,000 with no upper limit. Lawyers in this band typically have around six years' PQE.

The firm is in the process of conducting associate appraisals to determine where each will sit within the bands. Bonuses are determined by assessing individual performance and contribution as well as the financial performance of the London office and individual practice groups.

Nigel Rawding (pictured), Freshfields' London people partner said: "We remain committed to our strategy to promote a high performance culture which recognises and incentivises individual development rather than tenure; and we have invested heavily in our career milestones structure. Attracting and retaining the very best people is about much more than remuneration however and we also continue to focus on ensuring our all people have excellent opportunities for development through training and application."

Earlier this week, Linklaters unveiled across-the-board increases in its junior salary bands, with NQs seeing the biggest pay rise with an extra £2,500 on last year. Slaughter and May meanwhile announced slight increases in pay earlier this month, with trainee salaries starting at £39,000 and NQs paid £63,000.

Associate salaries: How the magic circle compare
Freshfields 2013 salary bands
Trainee year 1 – £39,000
Trainee year 2 – £44,000
CMF (equivalent to newly-qualified to one year PQE) £65,000 – £72,500
CM1 (two to four years' PQE) £80,000 – £92,500
CM2 (four years' plus PQE) £100,000 – £107,500
CM3 (roughly six years' PQE) from £115,000

Linklaters 2013 junior pay bands (2012 in brackets):
Trainees year 1: £39,500 (£39,000)
NQ: £64,000 (£61,500)
One year PQE: £69,500 (£69,000)
Two years' PQE: £78,250 (£76,000)
Three years' PQE: £89,000 (£88,000)

Slaughter and May 2013 junior pay bands (2012 in brackets):
Trainee year 1: £39,000 (£38,000)
Trainee year 2: £44,000 (£43,000)
NQ: £63,000 (£61,500)
One year PQE: £69,500 (£69,000)
Two years' PQE: £78,000 (£76,500)
Three years' PQE: £87,500 (£86,000)

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